An All-Terrain Vehicle (ATV) Bill of Sale is an official document that helps to indicate the selling and buying transactions of an all-terrain vehicle.
This legal form acts as proof or evidence of a sale. It is completed after the seller has received the agreed-upon funds and has transferred ownership of the all-terrain vehicle to the buyer (new owner).
The information contained on this contract includes:
- The agreed-upon date of sale of the all-terrain vehicle
- The full names and addresses of the seller (old owner) and the buyer (new owner)
- Complete vehicle details including the year, model, color, make, odometer reading, title number (if applicable), number of cylinders, and the VIN /Vehicle ID number (a 17-digit number)
- The down payment agreed by the seller and buyer
- The sales price, that is, the remaining amount of money to be paid by the buyer after a discount is given
- The agreed-upon date when the full payment is required
- The period and deadline date for the inspection process of the vehicle
- The signatures and date of the seller (old owner), the buyer (new owner), and witnesses.
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ATV Bill of Sale Importance
The all-terrain vehicle (ATV) bill of sale plays an important role, as shown below:
- This document highlights and expounds on all the agreements surrounding the sale of an all-terrain vehicle. Such information may include the deposits, price, and warranty.
- The ATV bill of sale helps to sell and buy transactions on paper for future reference.
- This document is also required as part of the paperwork for the registration process of the ATV after it is bought.
Selling an All-Terrain Vehicle
Here are the steps involved to sell an all-terrain vehicle to ensure that one legally and successfully sells the vehicle.
Cleanse the ATV
The ATV has most likely been through some rough terrains with muddy and dusty roads. It is, therefore, necessary to clean up the ATV. Clean the ATV before taking photos to ensure they are of good quality to attract potential buyers. Also, ensure that the ATV is clean before the buyer comes to inspect it. Clean under the wheels, the plastic areas, and at the radiator.
Examine the situation of ATV
After cleaning the ATV, ensure that everything is in place and working correctly. Check for any needed repairs and fix the ATV. This way, the value of the ATV increases, and there is a likelihood that the ATV will get better offers.
Place ads everywhere
At this step, prepare ads indicating a desire to sell the ATV and place these ads everywhere. Advertise online on social media, in newspapers and magazines, in recreational shops, auto shops, and even public notices.
Another efficient way to advertise is through family and friends. Tell these close people about the intent to sell the ATV and let them help in finding a buyer.
Get registration information
As the seller (old owner), check and confirm that the vehicle’s recent and updated registration details are present. This information will be necessary for the bill of sale. Also, the seller must confirm that there are no encumbrances; this is any liability or claim over the all-terrain vehicle from a creditor. If there are any encumbrances, the seller should look into them and clear them before the sale.
Negotiate the price of the ATV
At this step, several buyers are probably looking to buy the ATV. There is a need for the seller to negotiate the ATV pricing with the buyer until both parties agree on a particular amount. In case a buyer does not want to buy the ATV at a price in the ads, this is the stage where the buyer and seller can discuss down payments, discounts, and sales prices.
Fill out the ATV bill of sale form
After the price has been decided and the parties agree on an amount, it is now time to fill out the all-terrain vehicle bill of sale. Fill out the ATV bill of sale form with the required information mentioned earlier in the article’s introduction.
Examination of the ATV by buyer
Either the buyer or a certified mechanic will inspect the ATV before the final transactions are conducted. The inspection is meant to check for any required repairs or mechanical damages and concerns on the ATV. If the inspection is successful, no issues or concerns are found, the purchase can occur.
Registration and transfer of title
The last step is the registration of the ATV and the transfer of title from the seller (old owner) to the buyer (new owner). After the agreed-upon amount has been paid to the seller, the title can now be transferred to the buyer.
The new owner is now eligible to register the all-terrain vehicle through the local DMV.
The All-Terrain Vehicle Bill of Sale is a legally binding document that acts as evidence of the sale and purchase of an all-terrain vehicle. It is proof of sale and transfer of ownership from a seller (old owner) to a buyer (new owner).
This form contains the vehicle’s details, the buyer, the seller, and the amount to be paid. It is essential for a seller and a buyer to sign and complete the ATV bill of sale to ensure the legal sale and ownership transfer of an ATV.